Is there a mysterious letter winging it's way to us as we speak? Some claim to have received it and the news within is not good (or wonderful depending on your viewpoint).
I have NO OPINION on this at the moment as my letter box today yielded nothing but a letter from the CPF and a Changi Beach Club newsletter.
Someone sent me a very blurry image of the Letter - it's official all right. Can't quite make out the LUP figure but the deadlines are pretty much what I worked out on my Milestones post (since edited to put in the official dates).
Will check my letterbox later.
Will check my letterbox later.
Why can't SC just announce on FB that the letter concerning LIP has been sent out. No need to reveal details of the letter. At least we know it is official and not rumours.
ReplyDeleteJust remember guys, Sim Lian undervalued the LUP from the start. The 115m i believe was their way of sneaking in an escape clause to recover their deposit. I believe once all the permits (LTA, OPP, etc) clears, the sale will complete. If there is a hiccup there, Sim Lian walks away.
ReplyDeleteThe higher than 115m makes no difference at all except that they can collect back their deposit.
CSC don't like rumours, neither do we. Just make an official announcement of any update on FB Simple as that. No need to speculate and playing jokes & been told fake news by outsiders.
ReplyDeleteReally, CSC don't like rumors. Remember 'Round Market' Lest we forget, details are all there in FB. Uh-oh, can't seem to find any references to it in FB anymore. So Sorreee, my mistake!
DeleteFret not my fellow Sps. The higher LUP means that our land is worth more than what the buyer is paying us. It will be their loss if they walk out. In fact I would wish they will. Then we can go for round 4. If SL wants to tender, they will have to put in $2 million to get the contract. Now we know the value of our land. We have been misled by the team in the last round. If the deal is off, we will have the last laugh.
ReplyDeleteno lah.SL just give SP a lower LUP figure than reality as a escape clause.read my VIP trash bin then you understand more.
Delete2.i am not sure what will happen next round,locally and internationally.IF SL can buy,do not delay.
3.what is value of TC now?who say so?
@Anon2 : But SL cant simply walk away as they got good deal. Lets say the LTA rule allows for lesser ynits build and Also SPs no need top us LUP diff is that right?
ReplyDeleteThe only reason i can think of them walking away is if they have a problem with the bank loan. Maybe they cannot get 500m or the interest rate became too high, making Tampines Court less attractive.
DeleteHowever a 28m increase in LUP is actually very negligible in the grand scheme of things. I believe LUP amount was never a problem from the beginning.
What SL wanted was a way out,should our development climate change.
agree 100%. SL is a very astute developer putting in place all these conditions so that it can have the cake and eat it too. That said, I believe they will follow through with the deal as the whole project will result in massive economic multiplier effect for the whole group...its not just the profit numbers that they stand to benefit,..its the ability to keep the massive machinery chugging along for the next 5 years. I will be very surprised if they actually pull out after having gotten TC at such a fantastic price!
Deletedeveloper does not employ a fleet of workers and machines。
DeleteTHEY ALL sub contract out to build.
You got a point, the LUP is more like a backout clause. But how can the bank borrowing not work out? SL only had 1 successful tender, should not be too difficult to get the borrowings with their current assets. If they have trouble with the banks, developers with more debt like Oxley will face even more hurdles in borrowing
ReplyDeleteHappens to see Huttons Agents marketing "The TAPESTRY" today at market near St.Hilda's Sch.Overheard about some ppl.making enqueries anout TC enbloc status?.....Ans: Dunno Leh!!!.....
ReplyDeleteWas there a meeting among the MA, lawyer and SC as posted by some one here previously? How come no update again from the SC?
ReplyDeletebecause its fake news
DeleteCheck your email. They just send a copy of the letter, dated 30 Jan to my mailbox too.
ReplyDeleteFakers playing with TC SPs. Dun be fooled until you hear official news.
ReplyDeleteLTA also not confirmed. Looks like sim lian was waiting for the sales order before going after them?
ReplyDeleteWest coast Vale land parcel was just sold for about 800psf ppr.
ReplyDeleteWhats our psf with the 143m LUP? Is Tampines Court anywhere near? It might give us an indication if Sim Lian is still keen.
Not sure about the formula but based on direct computation, our land is worth S$840 per sqft with the increased LUP. At S$115 mil, the land value is $676 per sqft. This is a direct computation as stated and I may be wrong.
DeleteWhat was our enbloc team doing during the objections time at the STB period? Harassing the 3 objectors and forgetting to carry out the work they are entrusted to? Making such a hullabaloo when the objections were withdrawn and giving us the impression that everything will be fine and proper. What a mess we are in now and not a squeak from the team, giving us a dose of 101% silence. What lousy luck to get such a team.
ReplyDeleteIt is not surprising. Instead of spending 100% of the time patting all of the signatories on the back, they should have spent more time talking to the objectors during the signature collection phase and avoiding the objections in the first place.
DeleteNot once did they engage those who were not signing to understand the legitimate reasons why or whether they planned to object.
What letter? I didn’t get it??
ReplyDeleteThe letter stating LUP. Actually its just that LUP clause if not whole process would be alot of smoother. Even if TC had rejected SL deal and go by private treaty/4th round enbloc, may get even worse clauses/conditions
ReplyDeleteA contract is between 2 parties or more. I don't think there's any contract which will bind one party forever & release the other party unconditionally . It there's such a contract, it will be unfair contract. Just my opinion & correct if I am wrong.
ReplyDelete